Gresik eyes tie-up with Semen Baturaja, Indonesia

Semen Gresik CEO Dwi Soetjipto has expressed an interest in synergising with another state-owned cement producer, Semen Baturaja, according to local press reports.

"We see that such a synergy can improve Semen Gresik's position and Baturaja's inclusion can give added value," said Dwi at a press conference during the Investor Summit, earlier this week.

The acquisition was planned after Semen Gresik had changed its name to Semen Indonesia and became a strategic holding company for products under the brand names Semen Gresik, Semen Padang, and Semen Tonasa. The establishment of Semen Indonesia itself was scheduled to be discussed and decided at the Shareholder General Meeting on 20 December. If approved, the new holding company will be official in 2013.